Cochin port attracts import investments, India

Cochin port attracts import investments, India

Cochin port is emerging as a major cement import hub with Malabar Cements expressing interest in setting up a 1Mta facility and Zuari Cements finalising a 30-year deal with the Cochin Port Trust (CPT) this week.

Cochin Port is a major port on the Arabian Sea – Indian Ocean sea-route and is one of the largest ports in India. The port lies on two islands in the Lake of Kochi: Willingdon Island and Vallarpadam, towards the Fort Kochi river mouth opening onto the Arabian Sea.

The Hindu newspaper reported that CPT sources said that while Malabar Cements looking to set up import facilities, major players in the market such as Ambuja and UltraTech Cements had already initiated activities.

Zuari Cements, which is part of the Italcementi group, has also leased 2.4ha through a tender bidding process. Kochi port had received INR50 crore as upfront payment for the facility that would be operational in about two years, sources added.